TORONTO, ONTARIO--(CCNMatthews - June 13, 2007) - Centamin Egypt Limited (the "Company") (TSX:CEE)(AIM:CEY)(ASX:CNT) today announced that results have been received for RCD1073 drilled to test the down dip extension of the porphyry in the Amun zone. Significantly this hole intersected an extremely wide zone of mineralization of 197m @ 2.18g/t gold and within this was a higher grade core of 100m @ 3.51g/t gold (Figure 1). This mineralized intersection sits outside of the current optimized pit shell and also outside of the previously announced resource of 9.01moz.
(Figure 1: http://www.ccnmatthews.com/docs/CELF1.pdf)
The current drilling in the Amun zone was designed to deepen the previous open pit optimizations which had bottomed on drilling data rather than a lack of mineralization or pit economics. Previous geological interpretations were also limited in this area by a lack of drilling and this vastly mineralized intersection will now lead to more drilling being planned in this area which will clearly lead to further significant resource growth.
The current focus of drilling on the Sukari hill is most easily seen from Figure 2 attached (all Figures attached to this announcement can be obtained by viewing the release at www.centamin.com or www.marketwire.com).
(Figure 2: http://www.ccnmatthews.com/docs/CELF2.pdf)
Regional Exploration Commences
Within the 160km2 Sukari Mining Lease exists several areas of great interest for modern gold exploration. Several of these areas have hosted prior production during the Pharaonic, Roman and British mining efforts through Egypt's history. Work has now commenced on several of these near mine prospects with initial mapping, rock chip sampling and trenching to be followed by drilling. Mapping and rock chip sampling is currently underway at the Student, Pincer, Roman Garrison and Mike prospects. These prospects take the highest priority due to their proximity to the imminent mining operations.
The Company is extremely pleased with the latest drill result from the Amun Zone. Our previous interpretations, based upon limited drilling at depth, suggested that the porphyry hosting the gold mineralisation was thinning, however this latest drilling indicates this is not the case. The significance of RCD1073 cannot be underestimated as we anticipate further drilling will continue to define significantly more ounces in the Amun zone than initially expected.
Drilling continues with 9 rigs on the Sukari site.
For Centamin Egypt Limited
Josef El-Raghy, Managing Director/CEO
13 June 2007
Information in this report which relates to exploration, geology, sampling and drilling is based on information compiled by geologist Mr R Osman who is a full time employee of the Company, and is a member of the Australasian Institute of Mining and Metallurgy with more than five years experience in the fields of activity being reported on, and is a 'Competent Person' for this purpose and is a 'Qualified Person' as defined in National Instrument 43-101 of the Canadian Securities Administrators. His written consent has been received by the Company for this information to be included in this report in the form and context, which it appears. The assay samples were analysed by Ultra Trace Pty Ltd, Canning Vale, Western Australia.
FOR FURTHER INFORMATION PLEASE CONTACT:
Centamin Egypt Limited
+61 (8) 9316 2640
Bishopsgate Communications Ltd
Maxine Barnes / Nick Rome